Former top NCUA aide John McKechnie told a group of Ohio credit union leaders last week that the climate in Washington is akin to the Land of Oz.
Meanwhile, McKechnie has signed up the Missouri Credit Union Association as a client for his Washington lobbying firm. He left his NCUA position as director of congressional and public affairs on March 4.
In a speech last week at the Ohio Credit Union League’s annual convention about how to effectively get the CU message out, he compared the tone in D.C. to the “Wizard of Oz.”
He said both the congressional and regulatory scene “had been changed by the financial market upheaval, and I try to remind people that the situation is like the scene from the ‘Wizard of Oz’ where the picture changed from black and white to color, only in this case, the picture changed from color to black and white."
In other words, McKechnie said, “The landscape suddenly became very black and white in terms of how financial institutions are viewed. Everything became a question of safety and soundness and risk mitigation.”
McKechnie said the Missouri association is one of several financial-related clients he represents on behalf of Total Spectrum, the Washington firm where he is now senior vice president. The MCUA said McKechnie “joining us (is) a prized opportunity to ramp up our political advocacy.”
McKechnie said he was not at liberty to name the other clients. “I have to leave it up to them,” he said.